Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Economist’

The first lesson of doing business in China: the state comes first

Posted by hkarner - 29. November 2020

Date: 28‑11‑2020

Source: The Economist ‑ Chaguan

Chinese entrepreneurs may draw their own conclusions from the tale of Zhang Jian

Four decades after China emerged from Maoist isolation, mystery surrounds some big questions about its rulers’ views of the world. Start with a topical one: what are the true feelings of China’s leader, President Xi Jinping, towards Western‑style shareholder capitalism, with its emphasis on free competition, transparency, separation between ownership and management, and oversight by impartial regulators and courts?

Listen to speeches aimed at foreign audiences, and China is an example to the capitalist world. It is presented as a champion of openness and fair play, defending free trade against populist nationalists who have fantasies of turning back the forces of globalisation. Yet at home Mr Xi spends as much time stressing national self‑reliance, urging Chinese firms, officials and scientists to end their country’s dependence on foreign technologies. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , , | Leave a Comment »

Here we go again: Europe’s double‑dip downturn

Posted by hkarner - 24. November 2020

Date: 23‑11‑2020

Source: The Economist

Today’s IHS Markit eurozone purchasing‑managers’ indices are likely to confirm the downward trend in European economic activity that began last month.

Measures to contain a second surge in covid‑19 infections have forced many businesses in the bloc’s dominant service sector to limit operations. The damage caused by the second wave of lockdowns is expected to be less severe than that of the first.

Unlike in the spring, schools, factories and shops remain open in Germany and other countries. However, the region is still on track for its first double‑dip recession in nearly a decade, which few economists had expected earlier this year. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , | Leave a Comment »

Why it has to be Biden

Posted by hkarner - 31. Oktober 2020

Date: 29‑10‑2020

Source: The Economist

Donald Trump has desecrated the values that make America a beacon to the world 

THE COUNTRY that elected Donald Trump in 2016 was unhappy and divided. The country he is asking to re‑elect him is more unhappy and more divided. After almost four years of his leadership, politics is even angrier than it was and partisanship even less constrained. Daily life is consumed by a pandemic that has registered almost 230,000 deaths amid bickering, buck‑passing and lies. Much of that is Mr Trump’s doing, and his victory on November 3rd would endorse it all.

Joe Biden is not a miracle cure for what ails America. But he is a good man who would restore steadiness and civility to the White House. He is equipped to begin the long, difficult task of putting a fractured country back together again. That is why, if we had a vote, it would go to Joe. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , , | Leave a Comment »

How Berlin has become a centre for European venture capital

Posted by hkarner - 30. Oktober 2020

Date: 29‑10‑2020

Source: The Economist

Once edgy, the tech scene is in danger of going mainstream

For brits of a certain age and inclination, Berlin is a city that is forever linked with David Bowie. When he lived there in the late 1970s, Bowie’s life was in flux. He was estranged from his wife, splitting from his management and trying to slough off rock‑star excess. Berlin was similarly unsettled: a refuge for artists, misfits and draft‑dodgers on the front line of the Cold War. Bowie lived anonymously above a car‑parts store. He did some of his best work there.

The block of flats where Bowie lived with Iggy Pop, another celebrated rock star, still stands. Berlin remains an edgy, in‑between sort of place—it is Germany’s capital, but is not quite German. And it remains a place where people go to try something new. It now vies with London and Paris as Europe’s leading hub for technology startups. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , | Leave a Comment »

Can too many brainy people be a dangerous thing?

Posted by hkarner - 29. Oktober 2020

Date: 27‑10‑2020

Source: The Economist Free exchange

Some academics argue that unhappy elites lead to political instability

Ten years ago Peter Turchin, a scientist at the University of Connecticut, made a startling prediction in Nature. “The next decade is likely to be a period of growing instability in the United States and western Europe,” he asserted, pointing in part to the “overproduction of young graduates with advanced degrees”. The subsequent surge in populism in Europe, the unexpected votes in 2016 for Brexit and then for President Donald Trump in America, and a wave of protests from the gilets jaunes to Black Lives Matter, has made Mr Turchin something of a celebrity in certain circles, and has piqued economists’ interest in the discipline of “cliodynamics”, which uses maths to model historical change. Mr Turchin’s emphasis on the “overproduction of elites” raises uncomfortable questions, but also offers useful policy lessons. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , | Leave a Comment »

How Satya Nadella turned Microsoft around

Posted by hkarner - 25. Oktober 2020

Date: 22‑10‑2020

Source: The Economist

Now for the hard part

When satya nadella became the third boss of Microsoft in 2014 one photograph captured the moment. It shows him flanked by Bill Gates, the co‑founder and chairman, and Steve Ballmer, Mr Gates’s successor as chief executive. The two white tech tycoons strike a confident pose in casual dress. Mr Nadella, an Indian‑American, skulks in a suit, smiling awkwardly.

He had a reason for that awkward smile. The company was in a ditch. While it hunkered down at its headquarters in Redmond, Washington, Apple invented the iPhone, and Google and Facebook rose from Silicon Valley. Its share price barely budged for years. When he took over, says Mr Nadella, outsiders questioned if Microsoft will “make it to the other side”. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , | Leave a Comment »

How a “no deal” Brexit can be avoided

Posted by hkarner - 25. Oktober 2020

Date: 22‑10‑2020

Source: The Economist

It starts with acknowledging the consequences of one

Britain’s conservatives are fond of Australia, an Anglosphere place with a flourishing economy, fine weather and fabulous beaches. So when trade talks with the European Union were briefly suspended before resuming this week, and Boris Johnson told Britons they might end up not with the Canada‑style free‑trade agreement he wanted, but instead leave on “Australian terms”, he made the prospect sound beguilingly sunny.

This is typical Johnsonian spin. If the latest face‑to‑face talks should collapse and Britain end up with no deal, the terms on which it leaves would not be those that apply to Australia, which has many side‑deals and is seeking its own free‑trade agreement with the eu. They would be closer to those of Afghanistan, Bhutan or Congo: Britain would have no trade deal at all with its largest trading partner, and little prospect of getting one. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , | Leave a Comment »

Soon enough, Wall Street will have to take millennial investors seriously

Posted by hkarner - 22. Oktober 2020

Date: 21‑10‑2020

Source: The Economist

There is more to young investors than Robinhood and TikTok

THINK OF A millennial investor, and you might picture someone like Vincent Iantomasi, one of a legion of amateur traders dishing out investment advice on TikTok, a social‑media app. With “Blueberry Faygo” by Lil Mosey, an 18‑year‑old rapper, playing softly in the background, Mr Iantomasi tells investors looking for racy returns to pile into spxl, a leveraged exchange‑traded fund. Or you might think of users of “r/wallstreetbets”, a forum on Reddit, another social‑media site, who post “loss porn”: screenshots of their accounts on Robinhood, an investing app, after betting their life savings on short‑dated derivative shares in Tesla, an electric‑car maker. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , | Leave a Comment »

The Nobel prize in economics rewards advances in auction theory

Posted by hkarner - 19. Oktober 2020

Date: 17‑10‑2020

Source: The Economist Free exchange

For the third time since 2007, it goes to designers of market mechanisms

In 1991 alvin roth, who in 2012 would share the Nobel prize for economics, was asked how the discipline might change over the century to come. “In the long term”, he wrote, “the real test of our success will be not merely how well we understand the general principles which govern economic interactions, but how well we can bring this knowledge to bear on practical questions of microeconomic engineering.” Sweden’s Royal Academy of Science seems to agree. On October 12th it gave this year’s Nobel prize to Paul Milgrom and Robert Wilson, both of Stanford University, for their work on auction theory and design. Their work epitomises economics as engineering. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , , , | Leave a Comment »

Wall Street says it is braced for losses. Now what?

Posted by hkarner - 17. Oktober 2020

Date: 15‑10‑2020

Source: The Economist

One question is what they do with their earnings

Most bankers have been working frantically for the past six months. Traders handled record‑high volumes in choppy markets. Their colleagues issued mountains of equity and debt as companies sought to withstand the economic downturn by amassing capital. Commercial bankers offered forbearance to struggling borrowers, and were forced to write down the value of loans as the likelihood of being repaid fell. As a result, investment‑banking revenues soared in the first half of the year, and most commercial banks suffered losses as they set aside provisions for bad loans. That made for slender profits at Bank of America, Citigroup and JPMorgan Chase, the big hybrid banks. Goldman Sachs and Morgan Stanley, which are more skewed towards investment banking, posted stellar profits. Wells Fargo, a mostly commercial lender, lost money. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , | Leave a Comment »